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RESOLUTION NO.,27Og <br /> A RESOLUTION authorizing the City Treasurer to <br /> make an interfund loan from the Utility Fund to <br /> the General Fund to cover the cost of certain <br /> capital improvements at the Everpark Garage. <br /> WHEREAS, certain capital improvements are to be made at <br /> the Everpark Garage at an approximate cost of $25, 000 . 00 , and <br /> WHEREAS, the General Fund will pay for such capital <br /> improvements over a period of five years , and <br /> WHEREAS, it is required of the City Treasurer to obtain <br /> City Council approval to make interfund loans ; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of <br /> the City of Everett , that authorization is given to the City <br /> Treasurer to make an interfund loan under the following terms <br /> and conditions : <br /> Loan From: Utility Fund <br /> Loan To: General Fund <br /> Total Authorized: $25, 000 . 00 <br /> Period of Loans: May 21 ,1986 to May 21 , 1991 <br /> Rate of Interest : 8% <br /> Repayment Schedule : $5 , 000 per year with interest on <br /> the unpaid balance until paid in <br /> full . <br /> rte, <br /> Council M- . .er Int •1ucing Resolution <br /> PASSED AND APPROVED this /rrday of May, 1986. <br /> Council President <br /> 0003E <br />